The stock of PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) gapped up by $0.06 today and has $36.51 target or 82.00% above today’s $20.06 share price. The 6 months technical chart setup indicates low risk for the $146.28 million company. The gap was reported on Nov, 15 by Barchart.com. If the $36.51 price target is reached, the company will be worth $119.95 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 20,294 shares traded hands or 293.29% up from the average. PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) has risen 3.10% since April 11, 2016 and is uptrending. It has underperformed by 0.83% the S&P500.
More important recent PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) news were published by: Marketwatch.com which released: “Invesco announces cash distributions for Canadian-listed PowerShares ETFs” on September 20, 2016, also Seekingalpha.com published article titled: “PHB: This Junk Bond Goes Better With REITs Than With The S&P 500”, Wsj.com published: “Bond ETFs That Use Fundamental Indexing Are Off to Slow Start” on September 04, 2013. More interesting news about PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) was released by: Barrons.com and their article: “The Pros Pick 20 ETFs for Today’s Market” with publication date: May 07, 2016.
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